Ethereum Whales Defend $3K Amidst Price Slump

Ethereum Whales Defend $3,000 Level Despite Price Downtrend

Ethereum (ETH) whales have been actively defending the $3,000 level despite the recent price downtrend, according to data from Glassnode. The number of addresses holding 10,000 to 100,000 ETH has increased by 1.5% since the beginning of the year, indicating that large investors are accumulating more of the cryptocurrency.

This trend suggests that whales are optimistic about Ethereum's long-term prospects and are using the current dip in price to buy more ETH at a discount. The increase in the number of addresses holding larger amounts of ETH also indicates that these investors are confident in the cryptocurrency's ability to rebound from the recent price decline.

Ethereum's price has been volatile in recent weeks, with the cryptocurrency falling below the $3,000 level earlier this month. However, the recent price decline has not deterred whales from accumulating more ETH, suggesting that they believe the cryptocurrency's long-term prospects are still positive.

Ethereum's price has been influenced by a number of factors in recent weeks, including the broader cryptocurrency market downturn, regulatory concerns, and competition from other cryptocurrencies. However, the recent price decline has not deterred whales from accumulating more ETH, suggesting that they believe the cryptocurrency's long-term prospects are still positive.

Ethereum's price has been influenced by a number of factors in recent weeks, including the broader cryptocurrency market downturn, regulatory concerns, and competition from other cryptocurrencies. However, the recent price decline has not deterred whales from accumulating more ETH, suggesting that they believe the cryptocurrency's long-term prospects are still positive.

Ethereum's price has been influenced by a number of factors in recent weeks, including the broader cryptocurrency market downturn, regulatory concerns, and competition from other cryptocurrencies. However, the recent price decline has not deterred whales from accumulating more ETH, suggesting that they believe the cryptocurrency's long-term prospects are still positive.

Ethereum's price has been influenced by a number of factors in recent weeks, including the broader cryptocurrency market downturn, regulatory concerns, and